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Avanir Pharmaceuticals Reports Fiscal 2012 Third Quarter Financial And Business Results

ALISO VIEJO, Calif., Aug. 8, 2012 /PRNewswire/ -- Avanir Pharmaceuticals, Inc. (NASDAQ: AVNR) today reported financial results for the three and nine months ended June 30, 2012.

Quarterly Financial Highlights

  • Gross and net NUEDEXTA® sales of $12.2 million and $10.1 million, respectively
  • Total company net revenues of $10.5 million
  • Cash, cash equivalents, and restricted investments of $84.1 million as of June 30, 2012
  • "Our fiscal third quarter results reflect another significant increase in net sales of NUEDEXTA seen in both our retail and institutional business," said Keith A. Katkin, president and CEO of Avanir. "Going forward, our commercial team will continue to drive revenue growth by increasing recognition of pseudobulbar affect and awareness of NUEDEXTA as the only FDA-approved treatment."

    Fiscal 2012 Third Quarter Results

  • Total net revenues for the quarter ended June 30, 2012 were $10.5 million, compared with $2.5 million for the comparable quarter in 2011. Total net revenues consist of NUEDEXTA revenue and royalty revenue from Abreva®.
  • Total operating expenses were $24.7 million in the third quarter of fiscal 2012, compared with $18.4 million in the comparable period in fiscal 2011.
  • Cash used in operations was $14.9 million in the third quarter of fiscal 2012.
  • Net loss for the fiscal 2012 third quarter was $15.0 million, or $0.11 per share, compared with a net loss of $16.1 million, or $0.13 per share, for the same period in fiscal 2011.
  • Nine-Month Results

  • Total net revenues for the first nine-months of fiscal 2012 totaled $27.7 million, compared with $5.7 million for the first nine-months of fiscal 2011.
  • Total operating expenses were $74.1 million in the first nine-months of fiscal 2012, compared to $48.1 million in the comparable period for fi

  • SOURCE Avanir Pharmaceuticals, Inc.
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